Sysco (NYSE:SYY) Given New $85.00 Price Target at Barclays

Sysco (NYSE:SYY) had its price target dropped by equities research analysts at Barclays from $93.00 to $85.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 17.49% from the stock’s previous close.

A number of other equities analysts have also recently commented on SYY. Jefferies Financial Group lifted their price target on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Morgan Stanley cut their target price on Sysco from $82.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Melius Research raised Sysco to a “hold” rating in a research note on Wednesday, December 18th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, Melius began coverage on shares of Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price for the company. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $85.57.

Sysco Trading Down 5.9 %

SYY opened at $72.35 on Wednesday. Sysco has a 12 month low of $69.03 and a 12 month high of $82.89. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The stock has a 50-day moving average of $76.43 and a 200 day moving average of $76.03. The firm has a market cap of $35.54 billion, a P/E ratio of 18.60, a P/E/G ratio of 2.04 and a beta of 1.18.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 101.04% and a net margin of 2.44%. During the same quarter in the prior year, the company posted $0.89 EPS. As a group, research analysts forecast that Sysco will post 4.57 EPS for the current year.

Insider Activity at Sysco

In other news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. The trade was a 18.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 83,306 shares of company stock valued at $6,485,050 over the last ninety days. 0.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sysco

Several institutional investors have recently added to or reduced their stakes in SYY. State Street Corp grew its holdings in shares of Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after buying an additional 2,721,449 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after purchasing an additional 672,940 shares in the last quarter. Primecap Management Co. CA grew its position in Sysco by 9.7% during the third quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after buying an additional 422,954 shares during the period. Montrusco Bolton Investments Inc. increased its stake in shares of Sysco by 8.5% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after purchasing an additional 375,409 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Sysco by 4.1% in the 3rd quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock worth $332,983,000 after purchasing an additional 168,163 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Company Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.